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Fig. 20 | IZA Journal of European Labor Studies

Fig. 20

From: Unemployment dynamics and the Beveridge curve in Greece

Fig. 20

Impulse responses to a negative economic activity shock (in p.p.). a The response of quarterly GDP growth rate. b The response of inflow rate (s) to unemployment. c The response of outflow rate (f) from unemployment. d The response of the job vacancy rate. Notes: The solid black line represents the response of the variable of interest to the exogenous negative shock on quarterly output growth; the two round-dotted black lines are the 68 % confidence bands. The exogenous decline in quarterly output growth is modeled to be 1 percentage point (p.p). Standard errors have been calculated by bootstrapping the residuals (1000 replications were performed)

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